PRESS RELEASE - DECEMBER 27, 2005


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TRANSTECH INDUSTRIES, INC. RECEIVES

ADDITIONAL PAYMENT FROM CERTAIN EXCESS INSURANCE CARRIERS

 

            PISCATAWAY, N.J., December 27, 2005 - Robert V. Silva, President and Chief Executive Officer of Transtech Industries, Inc. (OTC BULLETIN BOARD:TRTI) announced that the Company has received a payment of approximately $1.3 million from the estates of four insolvent excess insurance carriers. The Company had settled its claims against the carriers in June 2005 and received a payment of approximately $2.7 million at that time.  The total of the payments received from the four estates, approximately $4.0 million, represents approximately 92% of the total amount of the agreed upon claims against the four estates.

 

     The four insolvent excess insurers were among the excess insurers named as defendants in the suit brought by the Company in 1995 which sought reimbursement of past remediation costs.  A settlement was reached with the majority of the defendant carriers in October 2001.

 

     The estates may pay a percentage of the agreed claim amount based upon projected assets and claims against such assets, however there are no assurances that additional distributions will be paid by the estates.  Further claims against the estates have been barred in accordance with their liquidation plans.  The claim proceeds will be subject to federal and state income taxes.

 

This news release may contain forward-looking statements as defined by federal securities laws, that are based on current expectations and involve a number of known and unknown risks, uncertainties and other factors that may cause the actual results, levels of activity, performance or achievements to differ materially from results expressed or implied by this press release.  Such risks and uncertainties include among others, the following: general economic and business conditions; the ability of the Company to implement its business strategy; the Company’s ability to successfully identify new business opportunities; changes in the industry; competition; the effect of regulatory and legal proceedings.  The forward-looking statements contained in this news release speak only as of the date of the release; and the Company does not undertake to revise those forward-looking statements to reflect events after the date of this release.                      


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